Truro Co. uses the gross profit method to estimate ending inventory for interim reporting purposes. Inventory on hand at the start of the quarter was 217,000. truro had sales of 440,000 during the quarter, purchases of 250,000 during the quarter, and purchase returns of 10,000 during the quarter. Truro's historical gross profit percentage is approximately 20%. estimate the value of truro's inventory at the end of the quarter using the gross profit method